It’s a new year.
That means it’s time to review and perhaps even revise your product purchasing patterns.
To help, Eyecare Business and The Vision Council teamed up for a Focused inSights Frame Buyers survey of eyecare professionals to track current market trends in buying ophthalmic frames and sunglasses.
Here, EB presents this all-important data on both frame and sunwear buying behaviors as well as the composition of inventory in today’s eyecare practices. The 10 topics addressed below focus on savvy strategies in both areas, with exclusive top tips for additional intel on specific topics that may be of interest.
The point? To help you plan for and achieve success in the months ahead, as there’s nothing more critical to practice success than buying smart. Here’s how your peers say they address several key topics.
1. FRESH INTEL
Got fresh frames? Nearly 7 out of 10 of ECP respondents (69%) update their inventory at least once a quarter.
TOP TIP: “Audit your pricing. Many frames and lenses have increased in cost over the last year. Make sure existing inventory has been adjusted to match the current cost. This is important for when a frame model is replenished or if a different color is ordered for a client.” Read on via a previous EB Optical Checklist in the online edition of the magazine.
2. KEY FIGURE
In terms of what’s on display on frame boards, almost a third (30%) of practices surveyed display between 500 and 799 frames. That’s a median number of 600 frames on the boards and in displays, with sunglasses typically accounting for 20% of that space and the rest (80%) a mix of ophthalmic frames.
3. INVENTORY INFLUENCES
Quality of product is the most important factor in the selection process to 80% of ECPs surveyed, followed by price and fashion trends.
TOP TIP: Align with this season’s fashion trends via sunwear styles with our “A Place in the Sun” feature.
4. PURCHASING PATTERNS
The vast majority of frame and sunwear buyers (93%) make purchases through in-person meetings with reps, while 68% also tap their vendors’ websites. Nearly 4 out of 10 (37%) say optical trade shows are a great place to purchase product.
TOP TIP: Trade-show talk! “Are you buying in bulk? What do you really need right now? What are the buy-ins and show specials? What’s the practice’s buying budget?” Head to Staff Hiring, Training + Retention for how to get your team up to speed on purchasing ahead of a trade show.
5. CRITERIA
Customer demand, brand reputation, and competitive pricing are the most important reasons for deciding to purchase one brand over another.
6. PRICING PARAMETERS
Practices report that half their inventory falls into the mid-market range, with the remainder almost equally divided between luxury (26%) and value (23%) segments.
TOP TIP: According to the survey, 79% of eyecare providers set a range for mid-level frames below $90.
7. DIAL IN STYLE
Four out of 5 ECPs say square-shaped frames are their most popular shapes with customers.
TOP TIP: EB’s monthly Retail Fashion section dials in various trending silhouettes. Click here to explore more.
8. BUYING + BRANDS
Large corporate and licensed designer brands combine to account for over half
of most practices’ frame inventories.
9. MUSINGS ON MATERIALS
ECPs most frequently purchase frames made of either acetate or metal.
10. FOCUS ON MANUFACTURERS
The variety of styles, ease of working with frames, and warranty are the most important qualities ECPs look for in frame manufacturers.
